Materials Down After Chinese Industrial Data - Materials Roundup

Shares of commodities producers declined after weak Chinese data. Industrial output in China in October slowed to the second lowest rate of the year, as reported earlier. Gold futures rose, going in the opposite direction to the dollar, which hit a three-week low against a basket of currencies as the push to pass a tax cut showed little momentum. Speaking at a Wall Street Journal event, director of the White House National Economic Council Gary Cohn said it was imperative that the Republican Congress pass a bill before the end of the year. Also speaking at the WSJ event, Commerce Secretary Wilbur Ross indicated that long-promised import barriers on steel in the name of national security were still pending, and would likely appear after a tax bill was passed.